(Reuters) – Google has acquired news-summary app maker Wavii for about $30 million in cash, just weeks after Yahoo paid a similar amount to buy Wavii competitor Summly.

TransferWise said it raised seed funding of $1.3 million in a round led by IA Ventures, Index Ventures, PayPal co-founder Max Levchin and a group of strategic angel investors. The company operates a crowd-sourced money transfer service. PRESS RELEASE Game-changing money transfer service TransferWise lands 1.3 million dollars from leading smart finance investors London, United [...]

If Yelp is valued at $14 per share, Benchmark’s shares would be worth $163M, Bessemer’s would be worth $163M and Elevation’s would be worth $118M.

Yelp joined the parade of Internet companies angling toward the public market by unveiling plans for a $100 million IPO and bringing a potential payday to backers Bessemer Venture Partners, Benchmark Capital and Elevation Partners. The IPO market for established Internet companies is heating up again, at least for bigger name players, such as Groupon [...]

Last week, I mentioned how much I like the brand Cherry, a San Francisco-based startup whose app allows users to order a car wash, wherever their car is parked, for $29. Yet the attraction goes beyond the name. I think the company –which officially launched today, backed by $750,000 in seed funding from PayPal co-founder Max Levchin, Square [...]

Time to catch up on the stories your colleagues found most compelling on peHUB this week. Here are the top 10 posts that garnered the most pageviews from regular readers from Sept. 12 to this morning, Sept. 16.

ONE Sequoia’s Doug Leone to Mike Arrington: Why You Want to Be a VC is Beyond Me — by Connie Loizos
TWO Top 10 IRRs from University of California’s Mid-Decade Venture Binge (Slideshow) — by Mark Boslet
THREE Slideshow: Dealt a Bad Hand? — by Jonathan Marino
FOUR Vinod Khosla: ‘I Don’t Much Like the Venture Profession’ — by Connie Loizos
FIVE VC Icon Tom Perkins Takes Swipe at Kleiner Perkins’ Big Bets on Cleantech — by Sarah McBride, Reuters
SIX Slideshow: Venture Capital’s Biggest Flops — by Joanna Glasner
SEVEN AOL Makes It Official: Arrington Is Out (slideshow) — by Lawrence Aragon
EIGHT Slideshow: 16 Alleged CalPERS Gift-Violators Face Fines — by Gregory Roth
NINE Study: Need a Fast Flip? Don’t Change the Management Team — by Connie Loizos
TEN Thiel and Levchin Offer ‘Blueprint’ for Solving Innovation Crisis — by Joanna Glasner

Despite what the popular media may tell you, innovation in the United States is somewhere between dire straits and dead. That’s the notion Max Levchin says motivated him and co-author Peter Thiel (pictured) to write their upcoming book, “The Blueprint,” slated to come out early next year. The two told attendees of this week’s TechCrunch [...]

Mountain View, Calif.-based Raptr, a social gaming network, has closed a $15 million Series B rouond, led by DAG Ventures and including Tenaya Capital and previous investor Accel Partners. The company, founded in 2007, had previously raised $12 million, including from Accel and Founders Fund, along with angel investors Max Levchin and James Hong. PRESS RELEASE: [...]

Monday night, employees of the 2-year-old online payment service WePay fashioned a 600-pound block of ice that read, “PayPal Freezes Your Accounts.” Tuesday morning, they rolled it in front of San Francisco’s Moscone Center, set it down, and ran as fast they could, pushing the pallet they’d brought along with them. They didn’t get far [...]